SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

This sections contains articles submitted by site users and articles imported from other sites on analytics

New apps for pet lovers

We have all heard about helicopter parents, but did you know that you can actually be a helicopter pet owner? Yes, you can actually keep a track of your pets and monitor them from work. When you miss your pet and you are worried about him, there are gadgets to make this possible and easier for you to talk with your pet. Pet lovers will totally love this bit of news as they cannot just play remotely with their pets but also monitor their health. Check out the whole article below: http://www.wsj.com/articles/gadgets-for-playing-with-your-pet-remotely-1455223286

 

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Effectiveness of visual content in social media

Visual content is more effective and interesting than text article. In a research, it was found that colored and eye-catching visuals increase people's willingness to read a piece of content by 80% and 40% of people respond better to visual information than plain text. Infographics and videos are also powerful, and interesting platform to represent a message. Research shows that infographics are liked and shared 3 times more than other any other content on social media. Read more at: http://www.business2community.com/content-marketing/20-infographic-video-facts-feel-power-visual-content-01544708#Cr0SLgpyZOmoqY49.97

 

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Building a Successful Big Data Analytics Program in Healthcare

With regards to big data analytics in the healthcare industry, there's a noteworthy contrast between beginning an activity and succeeding with it.  We have to collect data systematically. Organizations should also conduct regular reviews of their data integrity and health information management programs to help clinicians to collect important data in a standardized, and accurate manner. Big data analytics is costly and hiring an outsider with more experience might be interesting for suppliers who are feeling lost. Outsourcing can also be risky when it comes to data security. Read more at: http://healthitanalytics.com/news/how-to-build-a-successful-big-data-analytics-program-in-healthcare

 

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Using Predictive Analytics To Prevent Churn

Predictive analytics incorporate an assortment of measurable strategies from predictive modelling, machine learning and data mining that investigate present and chronicled certainties to make forecasts about the future. There are numerous components that show churn: drops in item utilization, debasing assessment in client communications. But the issue is predictive analytics depend on complex models that consider numerous "variables" that could possibly be independent. Key steps that can make client progress with prescient examination: 1. Quit attempting to rethink the whole. 2. Understand that it is just an expectation, not an assurance. 3. Move from imagining a scenario where to what's next. 4. Make it an agreeable, shut learning circle. For more read: http://www.cmswire.com/analytics/leveraging-the-power-of-predictive-analytics-to-control-churn/

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Predictive analytics in marketing industry

The advanced age is loaded with examinations, estimations and learnings. It has brought streaming information in real time. In today's predictive analytics world, advertisers can see the future effect before spending a dime. Advertisers can hope to know how likely it is for a specific occasion to happen in the life of a customer. Customers are focused on forecasts, which depends on their computerized impression. For more read: http://www.cmswire.com/analytics/predictive-analytics-makes-marketing-dollars-work-harder/

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Importance of big data analytics

The term big data are applied to data sets which is beyond the ability of traditional databases to capture, manage, and process the data with low-latency. Big data analytics can be real-time processing or streaming analytics. The primary goal is to help businesses to use data to be well informed about their customers, decisions they should be making, improving efficiency and various other use cases. For more read: http://www.cbronline.com/news/big-data/analytics/big-data-analytics-what-it-is-and-why-you-should-care-4894627

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Phone Analytics: Changing the future of Marketing

Phone analytics are used for understanding of what happens with customers on the phone. It is possible to get an overview of all the call activity within a certain timeframe. Phone calls are an important part of marketing campaigns, particularly for the business-to-business market. But, without call-tracking data, there's no way to know how well the sales team is doing with those follow-up calls. Using the analytics data, businesses can take steps to improve by reducing the call abandonment rate.  For more read: https://www.entrepreneur.com/article/273584

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Use Of Predictive Analytics In Real Estate Industry

Having access to information doesn't mean consumers will correctly understand and interpret the data. Real estate entrepreneurs also must gain a better understanding of this data to make it useful for customers. Real estate leaders should have knowledge of something when they use predictive analytics i.e. 1. Fortify the foundation, 2. Draw up a blueprint, and                                                                                                              3. Entertain your guests.    For more read: https://www.entrepreneur.com/article/275805

 

 

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The Importance of Predictive Analytics in Wholesale Industry

By utilizing technology & traditional data analysis, wholesalers can use predictive analytics: 1. Forecast future customer needs, 2. Discover trends to foresee future business scenarios, 3. Predict changes in customer segments and the impact to the organization,  4.develop future pricing strategies, 5.improve upcoming marketing campaigns, 6.project customer profitability, 7.develop strategies to maintain customers, 8. evaluate their exposure and risk profile, 9. identifies potential new customers, markets and segments. By leveraging the use of predictive analytics, wholesalers can gain the upper hand over competitors in today's digital economy. For more read: target=_blankhttp://clarkstonconsulting.com/blog/wholesale-distribution-and-the-digital-economy-the-importance-of-predictive-analytics/

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All About Account Based Marketing Strategies

Predictive modeling drives Account Based Marketing or ABM strategies by identifying the right audiences. With a good ABM strategy, you can personalize your website messaging to individuals once they land on your pages.  Personalization software tracks visitor sources and actions. Then uses behavioral, demographic data to provide personalized experiences according to the visitor's characteristics. Technology won't do everything. Successful ABM strategies depend on proper integration between sales and marketing. For more read: http://customerthink.com/whats-missing-from-your-account-based-marketing-strategy/

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Predictive analytics and purchasing

Predictive analytics help you how to make money. Angela Hausman, PhD (marketing professor at Howard University) writes in her article about some possibilities to improve bottom line by using predictive analytics: 1. Recommendation algorithms
2.Manage the customer journey
3.Segmentation based on CLV (customer lifetime value) or other variables
4.Optimize deployment of company resources
5.Hire the best employees for a job
6.Detect fraud. Using predictive analytics, firms segment their customers on more influential variables. Predictive analytics can help to optimize deployment of resources. For more read: http://www.business2community.com/business-intelligence/want-buy-using-predictive-analytics-01543154#eTFpvvsFFDwam4MG.97

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Cyber security investment is gaining importance

The cyber security budget has increased in the last two quarters in a massive way due to new internet of things threat in the cyber space. A research says that in 2015, investments in cyber security, increased by 78% and valued $228 million. It is suspected that it might reach $400 million at the end of 2016. But why such huge investment? The answer remains in our day to day life schedule. From residential information to car insurance details, every part of our life and economy is data driven and highly networked in cyber space. Earlier the hackers have a mentality to breach the confidentiality in the social space or E wallet arena. But now they are targeting more mainstream and essential services. This breaching of firewall could harm us in the daily life situation. So to protect this condition, huge investments are mandatory which will lead generating more revenue for security startups.

To read, follow: http://readwrite.com/2016/05/19/cybersecurity-investment-iot-sl4/

 

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Tit bits of digital marketing

Tit bits of digital marketing

Digital marketing is the most essential parameters to grow your business. But the strategies have to be taken to optimize the revenue model by this marketing technique. Most customers used to buy products online and helps to grow the business. So your presence in social platform is highly important, but at the same time social campaigning is also playing a crucial role. To design a proper landing page, create it interesting by providing important data and specific search items. To maximize the brand reach to the customer keep up to date your website and make it more relevant on the timeline, start by searching related topics in your industry which you think people will find interesting. Use search tools like Google Trends and Google AutoComplete to make your job easier and in the final phase understand the progress of your marketing process.

To read, follow: http://www.huffingtonpost.com/entry/5-digital-marketing-tips-_b_10049392.html?section=india

 

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Social media touch points to gain supernatural growth in business.

Social media touch points to gain supernatural growth in business.

Social media presence escalades the business scenario of the company. Before you publicize your business, you should know few touch points in social media marketing. You should take a close look on your regular followers and try to understand their perception regarding your business. Encourage your customers to join your social campaigning. Make a deep search of relevant and influential people who can boost your business via social platform. Sometimes post something new and fun without the use of social sync tools and auto-follow apps. Post interesting and unique things in the social wall to get popularity. Don't limit your business profiles to only the most popular social media sites-like Facebook and Twitter. With the exception of your time, small business social media marketing is free so take advantage of the many social networking sites out there.

To read, follow: http://www.smallbusinesscomputing.com/emarketing/9-easy-social-media-marketing-tips-and-tools.html

 

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Difference Between CRM and BI Platforms

Difference Between CRM and BI Platforms

Nowadays, organizations are gathering data by integrating Customer Relationship Management (CRM) tools with business intelligence (BI) platforms. The difference between CRM and BI is that CRM is a customer database to store information on interactions and sales history while BI provides strategic solutions for overall business functioning, and not just customer sales. But, now the question is how to integrate CRM and BI platforms. Annie Bustos (a valued contributor to Business 2 Community) writes in this article link about some best practices to ensure a smooth integration between these two powerful tools. They are: Understand what you are looking for, populate CRM with good data, create a real-time transfer of data, refine customer segmentations, leverage the data for testing and always ask for help.  

Read more at: http://www.business2community.com/business-intelligence/6-tips-integrating-business-intelligence-solutions-crm-01541585#yZlXhSkAZwpT5ewK.97

 

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Technology transforming Business

With the advent of technology growing and advancing day by day, we need to keep up or lose out in this race. Organizations keep upgrading their technology for higher productivity of work and higher efficiency with decreasing costs. The problems which the people in the organization face are learning about the new and complex technology and skills. Technology is transforming and if in workplace people want to excel they have to keep learning. To know more, please read the article at -: http://www.timesofmalta.com/articles/view/20160327/business-news/Technology-is-transforming-business.606958

 

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Usefulness of analytics

There are many ways by which anyone can optimize their website based upon user data. Four different ways to use analytics to improve the website and conversion rates are as follows: Do continuous testing, know what devices readers are using, measure site speed, pinpoint any traffic leaks. Read more at: http://www.hostgator.com/blog/2016/05/02/4-hidden-gems-in-google-analytics/

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Advanced analytics: playing a major role in retail

Advanced analytics is the procedure by which associations can make an interpretation of information. Retailers now can join their information together, i.e. From organizing information to unstructured information, to the in - store checking of client conduct, to outside elements and inspect it in insightful approaches to discover examples, estimate and make forecasts, and let you know how to tackle an issue. Read more at: http://enterprise.microsoft.com/en-us/industries/retail-and-consumer-goods/advanced-analytics-the-most-promising-trend-in-retail/

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Why Big Data analytics is beneficial for organizational learning

Business houses are now acknowledging big data. Many organizations are realizing how much Big Data affects employee learning. Additionally, Big Data can help organizations in order to gain higher efficiency, maintenance and engagement. The ways in which organization's learning programs can benefit from big data analytics are: Hyper-personalize learning to enhance business performance, higher return on Investment (ROI), Visualization i.e. Better learning, i.e. Big Data is equal to better business opportunities. Read more at: http://tech.firstpost.com/biztech/why-big-data-analytics-is-a-big-boon-for-organisational-learning-312790.html

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New cybersecurity technologies

The U.S. Department of Homeland Security (DHS) recently highlighted some new cybersecurity technologies that may have potential as commercial products. Some of them are - REnigma, Socrates, PcapDB, etc. To know more, please read the article by Tim Greene (covers security and keeps an eye on Microsoft for Network World): - http://www.networkworld.com/article/3056624/security/8-cyber-security-technologies-dhs-is-trying-to-commercialize.html

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